If You’re Married In A No-Fault Divorce State, Your NFTs Might Be At Stake

Are you an NFT collector married in a ‘no-fault’ divorce state? If so, your precious collection might be included in the 50/50 marital property process. In fact, many NFT holders already had 50% of their digital assets taken away by their spouses.

Collectors married in one of the 17 no-fault divorce US states might lose half of their NFT portfolios. Credit: FreePik

What happens to your NFTs if you’re married in a ‘no-fault’ divorce state?

Recently, more and more NFT collectors have been sharing their divorce stories on Twitter – and for good reason. Accordingly, those who got married in a ‘no-fault’ divorce US state must share their NFT portfolio with their soon-to-be ex-spouses too.

For example, Bored Ape collector @StonedBrody lives in Wisconsin – one of the 17 no-fault divorce states in the US. This week, Brody was allegedly forced “by a temporary order hearing” to transfer part of his NFTs to a wallet managed by his wife.

In other words, he might lose half of his NFT portfolio, including blue-chip collectibles.

“Value determination when time comes is going to be a nightmare, but has also allowed for delays on my end to this point. Any disagreement by my wife and I will result in court ordered liquidation,” Brody wrote in a tweet.

Surprisingly, the same happened to MAYC holder @hodlland. The collector replied to Brody’s message saying he lost 50% of his NFTs after his divorce.

BAYC collector Brody shared his NFT-related divorce issue via social media. Credit: Twitter

How can NFT holders keep their assets?

According to @hodlland, the only way to keep NFTs safe is to “get a prenup”. Otherwise, any NFT wallet created during marriage can be subject to division in a no-fault divorce state.

After all, the term “NFT” is more commonly heard in courts than ever before. The New York Court is even serving court notices as NFTs as of this summer – and our post covers all of the details!

The post If You’re Married In A No-Fault Divorce State, Your NFTs Might Be At Stake appeared first on NFT Evening.

Related Posts

Crypto Biz: NYDIG stacks sats, Elon buys Twitter

Amid the bear market, positive signs of crypto adoption continue to emerge. Also, Elon Musk is finally moving ahead with plans to acquire Twitter. For all the…

Bitcoin price finally made a move, and fireworks are sure to follow

New crypto market trends are starting to emerge now that Bitcoin and equities markets move closer to make-or-break levels, which will determine the markets’ direction. This week,…

How The Cardano Foundation Supported Launch Of This Hybrid NFT Project

The Cardano Foundation announced its support for the launch of a new non-fungible token (NFT) collection that will bridge the physical world with the digital. Created by…

FTT Spiked to 3-Week High as Visa, FTX Revealed Crypto Debit Card

The financial services corporation – Visa – collaborated with the cryptocurrency exchange – FTX – to offer debit cards in 40 countries across the globe. The cards…

Pace Gallery Announces Latest Artblocks NFT Drop

New York-based contemporary gallery Pace Gallery has announced a new development in its partnership with Artblocks. Launching on October 10, 2022, the new project is an NFT…

When Will Terra Victims Be Compensated?

It has been almost five months since Terra collapsed, and UST users are yet to be compensated as promised. The Luna Foundation Guard announced today that victims…

Generated by Feedzy